Senco Gold makes a strong debut on Dalal Street; here's what investors may do now
Senco Gold IPO listing: Senco Gold shares entered the secondary market with a bang on Friday, July 14, listing at a premium to the tune of 36 per cent over the upper end of the jewellery retailer's IPO price band. Its IPO, worth an estimated Rs 405 crore, concluded last week with strong participation from investors of all types.
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Senco Gold IPO listing today: Senco Gold shares made a strong entry in the secondary market on Friday, July 14, in line with market wizard Anil Singhvi's expectations. The Senco Gold stock — traded with the symbol SENCO on the bourses — opened for the first time at Rs 431 apiece on BSE, a premium of 36 per cent over the upper end of the company's IPO price band. On NSE, Senco Gold shares began their journey at Rs 430 apiece, a premium of 35.6 per cent.
The solid listing of Senco Gold on stock exchanges BSE and NSE comes after its initial public offer (IPO), worth an estimated Rs 405 crore, concluded last week with a subscription of more than 73 times.
What should investors do?
EDITOR'S TAKE | Anil Singhvi suggests holding on to Senco Gold shares with a stop loss
Zee Business Managing Editor Anil Singhvi, who had recommended applying for the Senco Gold IPO for listing gains as well as for the long term, expected the listing to be in the range of Rs 390-420 — meaning a premium of 23-32 per cent over IPO price range. He suggests winning bidders to hold on to their positions with a stop loss at Rs 375, which would be a premium of around 18 per cent.
Singhvi highlighted the following key points about Senco Gold:
Positive
- Strong background of promoters and PE investors
- Healthy growth trend
- Impressive financial track record
- Attractive valuation
Negative
- Highly competitive business
- Heavy concentration in eastern India
- Debt increased from Rs 530 crore to Rs 1,177 crore in two years
Here are some of the key details about the Senco Gold IPO:
The IPO was open for subscription for three trading days, from July 4 to July 6. Under the IPO, potential investors could bid for Senco Gold shares in the price band of Rs 301-317 apiece in multiples of 47 — translating to Rs 14,147-14,899 per lot.
The public offer received bids for a total of 69.1 crore shares as against the 94.2 lakh shares on offer, with strong participation across investor categories, according to provisional exchange data:
| Category | Reservation | Subscription (No. of times the shares on offer) |
| Qualified institutional buyers (QIB) | 50% | 180.9 |
| Non-institutional investors (NII) | 15% | 65 |
| Retail investors | 35% | 15.5 |
| Overall | 100% | 73.4 |
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